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China amends the FIE record-filing laws regulating foreign investments
In October 2016 came into effect revised Four laws in China that were promulgated and amended by National People’s Congress (NPC)to attract and encourage inbound foreign investments. Year by year, China keeps opening-up to the outside world and OFFSHORELICENSE keeps track of global trends observing the substantial moves of this important player on the international stage. This time to attract...
Path: BlogJapanese Financial Services Agency is discussing to impose stricter Crypto laws
...ancial Services Agency (FSA) of Japan has begun taking steps towards strengthening cryptocurrency regulation, aiming to provide better protection to the local investors. Due to local media outlet ‘Jiji Press’ report, debates on the new crypto laws are already initiated by Japanese authorities. It is planned to develop risky digital asset regulation by summer-2022. The work on the new legis...
Path: BlogJapanese Officials Introduce New Amendments in Japan’s Crypto laws
... cryptocurrency- related regulation. Originally new legislations were scheduled to come into effect in April, but due to a COVID-19 pandemic delay the final enforcement date has been officially pushed to May 1st, 2020. **Although there are no laws to regulate crypto in Japan, amending existing regulations is the only way at this time for digital assets to have any kind of legal status in th...
Path: BlogThe great step towards China
...r, in order to assure the stability of your business. Our turn-key business solutions also include accounting, audit and other financial services that may be required for client to sustain the business and stay compliant with local and international laws. Year by year, China keeps opening-up to the outside world and Offshorelicense Ltd keeps track of global trends observing the substantial move...
Path: BlogAlbania is preparing a legal framework for virtual assets
.... **Currently in Albania are no law providing for the regulation, prohibition or penalty in connection with virtual assets and related services.** But to change that Albania is seeking to become the next European blockchain hub with a new set of laws that legalize the use of digital currencies. On May 21st, the Albanian parliament signed a new bill into law to implement a legal framework for c...
Path: BlogAustralia adopted a new product intervention law
...ities and Investments Commission (ASIC) is gaining the same powers ESMA has in Europe, but it might be limited in using those for the next two years. The Design and Distribution Obligations and Product Intervention Powers Bill or simply Treasury laws Amendment has recently passed both houses of Australian Parliament. **A new bill is going to essentially change the domestic regulatory enviro...
Path: BlogCrypto exchange industry is not as compliant as it appears to us
...u can have recourse for this money, but it turns out that this is entity formed in some dodgy jurisdiction and you don’t know who is the owner, it’s very difficult to have recourse.”* This type of business structure can possibly create more lawsuits, similar to the famous one against Bitcoin Market, filed in November 2018. It is still unclear whether Oklahoma, where the exchange owners re...
Path: BlogUtility tokens to be! A new crypto legislation in Montana
...forward manner.** The Governor of Montana, Steve Bullock signed House Bill 584 which proposes the new provisions, as a result, making the State of Montana a desirable location for crypto startups. The bill with the title **“Generally revise laws relating to cryptocurrency”** was sponsored by Shane Morigeau and already passed its first and second reading in February. As a result of the a...
Path: BlogFrom now cryptocurrency will be under AML rules in Thailand
**Thailand’s financial regulator is willing to amend local laws in order for those to include cryptocurrency.** Preecha Charoensahayanon, Police Major and secretary-general of the Anti-Money Laundering Office (AMLO), said: *"We believe that, while currently not an issue, cryptocurrency will be a tool of new money laundering. We may not find any clue, but that doesn’t mean the wrongdoin...
Path: BlogSingapore's new retail trading regulation cuts FX Leverage to 20:1
...aving a special status of an accredited investor would still allow to access 50:1 leverage. However, obtaining the status of a professional investor is clearly difficult. **To become an accredited investor under Singaporean financial regulation laws it is required to:** • have assets of more than 2 million Singaporean dollars at personal disposal or, • have more than 1 million Singa...
Path: BlogPros and cons of Central Bank Digital Currency in the view of the IMF
...mber of countries are seriously considering the adoption of CBDC. This week China is one step closer to issuing its official digital currency. The country has finalized the development of the basic functions of its CBDC and is currently drafting the laws governing the circulation of the digital currency. Read our blog to keep abreast of all actual and interesting technology news.
Path: BlogGermany Introduces Draft Bill on Blockchain-Based Digital Securities
... draft bill that main objective for these changes and adaption of legal framework to new blockchain technologies is to strengthen Germany as a business location and to increase transparency, market integrity and investor protection.** At the moment laws in Germany states that financial instruments that are classified as securities must be secured in a document. Therefore, blockchain technology co...
Path: BlogLegalization of Cryptocurrencies in Russia
.... In contrast the Ministry of Economy proposed mechanisms like imposing new rules for crypto assets’ issuance and transactions, as well as to bring operators like exchanges and custodians under the government’s supervision. Although the new laws that regulate cryptocurrencies will come into effect on January 1, 2021, many field experts believe that this will not change the existing crypto...
Path: BlogOffshore jurisdictions introduce strict requirements for tax residents
...e employees starting from 2019. Earlier this year, in November, Peter Tarn, partner of the Harneys law firm, stated the following: *“This is the most significant threat to the existence of offshore industry since the late 1990s”,* Similar laws, that require physical presence of the employees, were introduced by the UK Crown Dependencies and Overseas territories: i.e. the Bermuda Parliam...
Path: BlogEU and US propose legislative changes regarding digital asset industries
...ch is leading to market fragmentation and reducing the complexity and costs for firms operating in area. The CSBS’ new guidelines are not only for crypto firms, but for regulated money service businesses (MSBs). While the MiCA introduces set of laws and legal taxonomy for the crypto industry, whereas the CSBS’ new program mainly deals with compliance measures. New program only applies t...
Path: BlogJapan and South Africa are to set new crypto regulations
...e the different reasons that lead to abovementioned changes in crypto regulations, we can clearly see the same pattern in the activities performed by authorities of two economical giants of the modern world. This may result in significant changes of laws regulating crypto-activities all over the globe and change the market dramatically, which we are eager to see regardless of effect that it will h...
Path: BlogNew Gambling regulator in Curacao is coming?
...terrorist organizations**), new regulator is expected to operate a much **stricter policy** in terms of to whom grant licenses. Moreover, according to Curacao Gaming Control Board plan, license holders will have to comply with all of the gambling laws of the countries that they are operating in, which comes in a direct contrast with the current situation, where many operators have been able to ...
Path: BlogControversy on 30% Crypto Tax in India
... businesses. If costs can't be shown as an expense, losses can compound quickly.” However, all of the above-mentioned rules, even though they are being harsh, the industry is optimistic about the future of cryptocurrencies in India. No, the tax laws do not legally define cryptocurrencies, but they definitely legitimize the digital currencies, when the industry was expecting a crypto ban by th...
Path: BlogJapan to Tighten Crypto Rules for Preventing Sanctions Evasion
...pan is to tighten rules on cryptocurrency exchanges, as the country announced intentions to update its Foreign Exchange and Foreign Trade Act.Chief Cabinet Secretary, Hokazu Matsuno, has stated that Japan will introduce a bill to revise the existing laws on the matter. Such actions are taken in light of intentions to crack down on any loophole that allows sanctioned countries like Russia to eva...
Path: BlogComprehensive Guide to Opening an Offshore Company in Seychelles
... smoothly. Are Seychelles registered companies permitted to do business in Kenya? Seychelles registered companies can do business in Kenya, subject to local regulations and compliance requirements. It's essential to understand Kenya's business laws and, if necessary, register the company with Kenyan authorities to operate legally. Can you open a PayPal account for a Seychelles company? ...
Path: BlogSingapore Crypto License
...et services. Maintaining the license requires ongoing compliance with MAS regulations, including regular reporting, audits, and adherence to strict AML/CFT standards. Engaging with legal and regulatory experts who specialize in Singaporean financial laws can facilitate the application process and ensure continuous compliance.Timeframe: around 12 months Minimum paid up capital: The min...
Path: LicensingIsle of Man Gambling License
Although, Isle of Man is under British dependency, it is self-governing and not bound by the laws of the UK. The Island is famous as a low tax economy with zero capital gains tax, wealth tax, stamp duty, or inheritance tax. Also, the island is extremely favorable for business as it has 0% Corporate Income Tax. It is considered as a banking and financial services hub with tourism also making a sig...
Path: LicensingMalaysia is planning to regulate initial coin offerings as securities offerings
...vices Order) entered into force on Tuesday, January 15. The new prescription order means that ICOs and exchanges would require additional confirmation from the SC prior to commencement of operations and would have to comply with local securities laws. Minister of Finance, Lim Guan Eng stated: *“Any person offering an ICO or operating a digital asset exchange without SC’s approval may...
Path: BlogRussia adopting three-tier cryptocurrency regulation
...ead of prohibiting digital currency. Although even the Central Bank of Russia perceives cryptocurrency as a threat to Russia’s monetary system, many financial institutions and politicians, including Vladimir Putin, supported the adoption of crypto laws. Indeed, the crypto regulation would allow national authorities to have control over the digital assets industry. Many experts raise concerns...
Path: BlogTwo of Malta's blockchain acts came into force
...isleading. **Offshorelicense** as a reliable corporate service provider has obtained official clarification from the Malta Financial Services Authority (MFSA). In accordance with this clarification, the **MFSA has yet to issue any licenses under the laws since the requirements for the applicants currently being developed**. As you may already understand in order to apply for the respective lic...
Path: BlogSaint Vincent and the Grenadines Deals with the False Accusations
...rorism, tax offences, and other financial crimes together with the international authorities. **Saint Vincent and the Grenadines is out of any sanction lists and its legislation complies with major international acts on financial crimes**. The US laws are considered to be the strictest in matters of transferring and storing money overseas, therefore the information in the media seems to be inco...
Path: BlogPros and cons of Labuan company formation
...s’ meetings can be held all over the world but marketing office is limited to allowed cities. It is important to check the list before renting a suitable office. Good news is that when establishing company in Malaysia you can enjoy confidentiality laws that grant your information safety from public access. One more thing you need to consider when you establish company in Malaysia is that you ...
Path: BlogStarting your own business in Saint Vincent and the Grenadines
...ibbean Dollar to USD hasn’t changed since 1976. What are the other arguments in favor of setting up a company in St. Vincent and the Grenadines? Except of political and currency stability there are a couple more arguments. Package of financial laws that regulate St. Vincent company formation were enacted in 1990s and business in this country operates according to them. This law package is ai...
Path: BlogMalta as the new crypto bay
...f the popular destinations for crypto and ICO** whereas other jurisdictions around the world restricting cryptocurrencies and ICOs or adopting a neutral approach. Even though Malta is the smallest EU member, its government is developing reliable laws for the newly created industry that will probably become the next big thing following the Internet, as well as will affect almost everything of o...
Path: BlogWhy is Limited Liability Partnership a popular business structure?
...s, perform management duties by themselves or appoint special workers, operate inside or outside the UK. All these features allow them to scale business in any ways they want. Main partnership members are also individually protected from the massive lawsuits that may arise regarding their business activity. This is why you, as an entrepreneur, should think about setting up your Limited Liability P...
Path: BlogStarting offshore business in Vanuatu
...hoosing Vanuatu as your offshore jurisdiction are mostly about simplicity and favorable climate for business. For example, all international businesses in Vanuatu are regulated by only two legislation acts, both from 1900th. Main advantages of these laws are confidentiality and support of international business initiatives. They make Vanuatu one of the most favorable offshore jurisdiction nowadays...
Path: BlogWhy should you invest in offshore business?
... reason. Another point to consider when moving a business offshore, is safety and confidentiality of the country. Most popular jurisdictions have high level of asset protection and strong confidentiality legislation. Individuals who are afraid of lawsuits or other financial troubles can easily invest in company offshore. This can keep your assets safe and also help increase your income. Conf...
Path: BlogMove business wisely. What to consider when choosing offshore jurisdiction?
...also plays a big role in company formation. Comfortable offshore climate often depends on local regulations. Most considered branches are: asset protection legislation, confidentiality conditions, international business functioning rules, investment laws and taxes. Due to this, many worldwide-known offshore jurisdictions became popular: Cyprus, Switzerland, the UAE and other. Considering this poin...
Path: Blog6 things to consider when going offshore in 2017
...e an offshore jurisdiction because they do not know what to consider first when moving. We chose 6 things that will help our customers decide whether they need to do business offshore. 1. Legislation and legal opportunities. Business regulation laws in domestic country sometimes are strict and oppressive for business. This means that there is a need for company founders to choose most advanta...
Path: BlogStarting an international business. To offshore or not to offshore?
...tioning.* When you form or relocate your business to another country you can achieve a couple of very crucial goals. Sometimes legal or taxation climate in your country is not opportune for business matters. This does not mean you have to break the laws or do anything illegal. The main reason to move your business is to keep balance between your own profit and the others’. Also, having a foreig...
Path: BlogHow to set up a Limited Partnership in Scotland?
...inimize taxes with a simple scheme. Limited partner in a Scotland company is subject to law profits and the general partner receives most gains. The secret is that general partner is a foreign person who is not a taxation subject according to the UK laws. So, starting a small business in Scotland in form of Limited Partnership is a reasonable and allows you both optimize taxes and use all advantag...
Path: BlogVirtual Currencies’ Control in Singapore
Using **virtual currencies** is now a common practice between business representatives. Breadth of choice in the field of financial instruments makes regulators think of more and more universal types of acts and laws. Many international documents also have requirements for the counter-financing of terrorism and anti-money laundering policies. This puts financial regulators in the position where...
Path: BlogCayman Investment Funds
**The Cayman Islands is an enormous international financial center and a leading hub for international investments.** This status of the Cayman Islands is due to its compliant and effective laws, easily accessible professional service providers, and high reputation amid stakeholders. Besides all this the Cayman Islands has no capital gains, income, profits, corporation or withholding taxes ne...
Path: BlogSingapore clarified new requirements for digital advisors
...y digital consultants help clients to pass their buy or sell orders (e.g. CIS, bonds and stocks) to brokerage firms for execution. Taking of such orders to brokerage firms for execution forms dealing in capital markets products under the Singaporean laws. To allow FAs to improve its services, digital advisers which are FAs are relieved from the need to hold capital markets services license if t...
Path: BlogFresh breath of air for innovative financial services in Labuan
...heir trade operations can serve for such activities. Basically, they would need to prove sufficient level of capital; sufficient framework of internal policies and controls; computerized risk management and governance; and compliance with applicable laws, rules and regulations relevant to the IFS’s business operations. Summing up we can say that **Labuan become an interesting option for those...
Path: BlogHow to Relocate Your Business Overseas: Expert Recommendations
...times it is a good idea to use advantages of different jurisdictions for your business.Before moving to a foreign jurisdiction, it is important to analyze its legislation.The most significant aspects for you to acknowledge are taxation and corporate laws. In addition, think about establishing an office and creating a stable customer care system. If you do not feel sure and comfortable doing it ...
Path: BlogGeorgia Crypto License
... become an attractive destination for cryptocurrency businesses due to its favorable regulatory environment and supportive government policies. The National Bank of Georgia oversees the regulation of crypto activities, ensuring compliance with local laws and international standards. To operate legally, crypto exchanges and related businesses must obtain a license, which involves meeting stringent ...
Path: LicensingIs your business being sued? Here's what you can do
... you in figuring out available options for you. It is possible for a case to be dismissed or resolved even without taking it to court. These options can save your business significant amount of time and money. **Check your insurance coverage.** A lawsuit entails court fees, legal fees, and costs for investigation; and this can be financially draining for a business. Your insurance company may p...
Path: BlogWhy cryptocurrency is the future of electronic cash systems
... electronic cash systems to be crypto. There’s also the possibility that all cryptocurrency prices will become stable over time as the market continues to mature. **Security** While fiat payment processors and businesses often have security flaws that lead to the loss of user funds and other issues, these incidents aren’t highlighted as much as large-scale cryptocurrency hacks. As we ...
Path: BlogGaming Bill in Malta. One gaming law for all.
...onomy, and Innovation, Silvio Schembri made an announcement that was of utmost importance for companies and individuals who participate in the **gaming industry of Malta**. Nowadays the regulatory situation of this industry is as follows: different laws, contradictory documents, guidelines and directives. What will change? The Parliament promises to adopt the **Gaming Bill** – a newly developed...
Path: BlogNew securities policies from Bahamas Regulator
Recently, **three new securities policies were announced** by the Securities Commission of Bahamas (SCB) which will affect different aspects of securities laws. The following documents were published on the Commission official website: (i) **Due Diligence Refresher Policy**; (ii) **Reclassification and Downgrade of an Unrestricted Investment Fund Administrator License**; (iii) **Regulatory C...
Path: BlogGovernmental digitalization in Malta
... public authorities of Malta have a positive attitude towards the blockchain technology. **Malta government authorities intend to establish Malta as a center of “Blockchain industry”**, thereafter they have announced the following three draft laws: (I) the Malta Digital Innovation Authority Bill; (II) the Innovative Technology arrangements and Services Bill; and (III) the Virtual Financial ...
Path: BlogAustralia Crypto License
...urrency trading are considered taxable income and must be reported accordingly. It is essential for businesses to maintain detailed records of their cryptocurrency transactions to ensure accurate tax reporting and compliance with Australian tax laws. Accounting requirements Filing annual report is obligatory Secretary - Required Registered office - Loca...
Path: LicensingCyprus Investment Fund License
...int a depositary/custodian or any other company subject to prudential supervision (are exceptions depending on the fund) Cyprus Securities and Exchange Commission (CySec) requires a minimum of two executive Directors Taxation Cyprus tax laws are designed to support the development of the country as an international financial and business center, to promote international investment and...
Path: LicensingLabuan Crypto License
...ry of Malaysia, which offers one of the strongest regulatory frameworks for various financial service companies. This, along with the favorable tax system, makes Labuan a prestigious place where to start a Token Licensed Business. According to local laws issuer of such tokens undertakes that: on the production of the token, whether or not some other action is also required, the issuer will s...
Path: LicensingSwitzerland Portfolio Management (ARIF Registration)
...of Membership which would allow successful applicant conduct portfolio management activities within and outside Switzerland. To become a member of ARIF, a limited company with initial capital not less than CHF 20,000 is to be registered under the laws of Switzerland. A company must have at least one director of Swiss nationality, in this respect OFFSHORELICENSE does provide nominee services. ...
Path: LicensingBelize Money Transmission License
... and user-friendly offshore legislation.Incorporation & obtaining license: 3-4 months Minimum paid up capital: USD 75,000.00 * License fee: USD 1,000.00 License renewal: USD 5,000.00 Overview Belize´s laws facilitate fast and simple incorporation, and its modern and computerized IBC Registry is capable to process a company registration quickly. T...
Path: LicensingDeltec Bank Account Opening
...es Ltd. and Long Cay Captive Management. Advantages of bank account opening: A tax neutral platform – with no income, estate, inheritance or capital gains tax, and no restrictions on the repatriation of funds No forced heirship laws for domiciled assets Highest ranking nation for civil liberties and political rights by the World Bank Home to approximately one third of the...
Path: BanksDeltec Bank Account Opening
...es Ltd. and Long Cay Captive Management. Advantages of bank account opening: A tax neutral platform – with no income, estate, inheritance or capital gains tax, and no restrictions on the repatriation of funds No forced heirship laws for domiciled assets Highest ranking nation for civil liberties and political rights by the World Bank Home to approximately one third of the...
Path: BanksAndorra Limited Liability Company (SL) Formation
...der, then the entities are called "SLU" and "SAU", where "U" stands for "unipersonal" The general assembly of shareholders is the sovereign body in the company and passes resolutions on the most important matters in company life (amendment of bylaws, approval of yearly accounts, application of profits for the financial year, appointment and dismissal of administrators, transformation, merger,...
Path: CompaniesCyprus Limited Liability Company Formation
...art of the public record, if you wish to avoid it then please request a nominee service Directors' details – are part of the public record, if you wish to avoid it then please request a nominee service Taxation According to Cyprus Tax laws, Cyprus Companies are considered to be Cyprus tax residents by default and are taxed at 12.5% on profit. However, non-resident Companies are not ...
Path: CompaniesLabuan International Business Company Formation
...apital requirement Overview The Offshore Companies Act 1990 (OCA) provides for the establishment of offshore companies and the registration of foreign offshore companies in Labuan. In addition, a foreign company incorporated under the laws of another country may also apply to be registered as being continued in Labuan. Every offshore company may be a company limited by shares or by ...
Path: CompaniesBritish Virgin Islands International Business Company Formation
...trust business (unless licensed under the Banks and Trust Companies Act, 1990) or insurance or re-insurance business (unless licensed in the BVI to carry on that business). Otherwise, BVI BC's may engage in any activity that is not illegal under the laws of the BVI subject to any restrictions in their Memorandum of Association.General information Company structure Only one shareholder (ca...
Path: CompaniesBelize International Business Company Formation
.... This piece of legislation was initially adopted in 1990 and further extended and amended in 2000. Belize IBC Act is considered internationally as one of the most modern and user-friendly offshore corporation legislations available today. Belize´s laws facilitate fast and simple incorporation, and its modern and computerized IBC Registry is capable to process a company registration quickly.Gener...
Path: CompaniesSt. Vincent and the Grenadines LLC Company Formation
...ncent IBC is a tax free vehicle for undertaking a wide range of business and investment opportunities under the jurisdiction of St. Vincent and the Grenadines, characterised by robust asset protection and some of the strongest global confidentiality laws. St. Vincent and the Grenadines holds an international reputation in the offshore market, built on the back of its introduction of the Preserv...
Path: CompaniesVanuatu International Business Company Formation
...ore or International Company, is commonly set up in an offshore financial centre like Vanuatu, where there are no corporate or personal income taxes, capital gains taxes, reporting requirements, or restrictions on company employment policies. As tax laws differ from country to country it is important to seek proper professional advice in your home country to ensure that any use of Vanuatu does not...
Path: CompaniesQuebec Company Formation
...fits Newly formed corporation should hold its first meeting of directors (called an organizational meeting) shortly after incorporation. The orders of business of an organizational meeting are usually to appoint officers, issue shares, make by-laws, appoint an auditor until the first meeting of shareholders and make banking arrangements. The first annual meeting of shareholders must be calle...
Path: Companies